Sezzle Inc (ASX: SZL) shares have had a bumper week on the ASX. By today’s market close, the Sezzle share price had gained just over 15% for the week to finish at $9.50.
With no price-sensitive announcements out of the company this week, let’s take a look at what might be helping boost Sezzle shares.
Tech shares on the rise
The past few weeks have been a glorious time to be a tech investor.
The S&P/ASX 200 Info Tech Index (ASX: XIJ) has surged by around 21% since 20 May, propping up heavyweight names including Afterpay Ltd (ASX: APT), Xero Limited (ASX: XRO) and WiseTech Global Ltd (ASX: WTC).
The recent jump in the tech sector brings it to within around 7% of its record all-time highs achieved in February.
A far more bullish narrative is taking place on Wall Street, with the tech-heavy Nasdaq Composite (NASDAQ: .IXIC) making new record highs in each of its last three trading sessions.
So, it’s possible the resurgence of tech shares is helping support the Sezzle share price this week.
Leading BNPL shares surge in June
ASX-listed buy now, pay later (BNPL) shares struggled to make headway in late April through to late May.
This was despite the S&P/ASX 200 Index (ASX: XJO) topping its pre-COVID highs in the last week of May.
However, June appears to have turned over a new leaf for the underperforming sector, with leading players such as Afterpay and Zip Co Ltd (ASX: Z1P) running around 17% and 39%, respectively, this month.
In addition to their impressive gains this week, Sezzle shares have also lifted by around 27% this month.
The post The Sezzle (ASX:SZL) share price has lifted 15% this week appeared first on The Motley Fool Australia.
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More reading
- Brokers name 3 ASX shares to buy today
- Citi plans to disrupt Afterpay (ASX:APT) and Zip (ASX:Z1P)
- ASX 200 up 0.3%: CSL downgraded, Zip drops, Charter Hall impresses
- Why the Zip (ASX:Z1P) share price is down 5% today
- Here are 3 of the most heavily traded ASX 200 shares today
Motley Fool contributor Kerry Sun has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO, WiseTech Global, Xero, and ZIPCOLTD FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Sezzle Inc. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO, WiseTech Global, and Xero. The Motley Fool Australia has recommended Sezzle Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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